Property Manager: What are his obligations in short-term leases?
3 min read
Do you have a property that you rent out short-term? Whether you manage the lease yourself, or someone else has taken it on your behalf, a friend or a company, it is important to have a property manager appointed, but also to know exactly what this means and what the obligations and responsibilities that accompany it are.
Who is the manager of a property?
A property manager is considered and is the person who undertakes the management of the short-term rental of the property. By management we can mean the registration of the property, the monitoring of reservations and the submission of relevant declarations.
A manager can be either the owner, the tenant or sub-lessor of the property but even a third party company that has undertaken the management of the property.
The reason why it is important to have a property manager appointed and for you and everyone involved in the short-term rental to know who he is is because the manager is the one who bears the legal and tax responsibility for the lease. Therefore, it is essential to know his role and obligations.
What are the basic obligations of a property manager?
A property manager is not just a title, it is not something formal. It is accompanied by specific obligations that are important to be observed carefully, so that the lease is legal. But what are the obligations and responsibilities of a property manager?
Obtaining a AMA
The property manager must register the property in the Short-Term Accommodation Property Registry and obtain a unique Property Registry Number (AMA). This process is done electronically through the myAADE platform with their personal credentials.
Submitting a Short-Term Accommodation Declaration
For each separate stay in the rental property, it must be submitted by the 20th of the following month from the guest’s departure date. The declaration is made through myAADE and includes basic details of the lease, namely the duration, income and the platform through which the reservation was made.
Finalizing the Property Registry
The manager must have finalized his registry by February 28 of each year, declaring the correct distribution of income, if there is co-ownership.
What should the manager pay attention to for full legality?
Managing a property requires great attention and the manager must be aware of individual details that are often overlooked, even if they are very important for compliance with the law.
These details are as follows:
- Clear indication of the AMA in all listings, platforms and advertisements
- Separate reporting of the Climate Resilience Fee, so that it is not taxed as income
- Respecting deadlines for declarations and corrections
- Information in case of changes, such as cancellations, rebookings or rentals outside the platform
Working with an accountant can be crucial in avoiding mistakes, fines or omissions that may be costly.
As simple as it may seem, managing a short-term rental property comes with specific obligations that should not be overlooked. From obtaining a residence permit, to the residence declarations and the final finalization of the registry, the manager bears full responsibility. An accountant who will be by your side can take care of every stage of the process so that all procedures are carried out correctly and on time.